Ignition, magneto, and armature refers to the same device. All small engines usually a magneto type ignition (magnet based) except for the battery ignition systems.
Napa is not refer to the stator (alternator) magnets which are inside the flywheels but to the ones on the outside. Usually there is just magnet and Nova system works fine on those setups.
Only other drawback is must use an universal ignitor on the cast iron crankcase model as they use positive ground instead of the negative ground that is more common.